Academic Journal of Business & Management, 2023, 5(24); doi: 10.25236/AJBM.2023.052401.
Zhiwen Song1, Xiangying Song2
1College of Economics and Management, Foshan University, Foshan, Guangdong, China
2Faculty of Business, Economics & Law, The University of Queensland, Brisbane, Australia
Tax incentives is an important policy tool to help to enhance enterprise value. Taking the listed companies in China GEM as samples, this paper empirically examines the impact of tax incentives on enterprise value and the mechanism based on the mediating effect model. The results shows that tax incentives significantly and positively affect the value of GEM listed companies. The greater the intensity of the preferential tax, the greater the promotion effect on the enterprise value. The preferential tax policy promotes the enterprise value by encouraging the GEM enterprises to increase their research and development investment, which plays a part of mediating effect role. This study provides empirical evidence and policy implications for the implementation of tax incentives to enhance enterprise value.
Tax incentives; Enterprise value; Mechanism analysis; Mediating effect
Zhiwen Song, Xiangying Song. Can Tax Incentives Enhance Enterprise Value?—Mediating Effect Based on Research and Development Investment. Academic Journal of Business & Management (2023) Vol. 5, Issue 24: 1-8. https://doi.org/10.25236/AJBM.2023.052401.
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